India: Only country to have STT, LTCG at the same time
In Union Budget 2018-19, PM Modi led Government reintroduced long-term capital gains (LTCG) tax and retain securities transaction tax (STT). This move makes India the only country in the world to have both taxes at the same time. The govt put 10% tax on long-term capital gains which was Rs 3.67 lakh crore for the 2016-17 assessment year. LTCG was abolished in 2004 and replaced by STT.